Aew Capital Management L P Sells 137,410 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• Aew Capital Management L P has reduced its stake in CareTrust REIT, Inc. by 14.1%, selling 137,410 shares and now owning 837,292 shares.
• CareTrust REIT announced a quarterly dividend of $0.335 per share, representing an annualized dividend of $1.34 with a yield of 3.9%.
• Analysts have a consensus rating of "Moderate Buy" for CareTrust REIT, with target prices varying between $31.50 and $36.00.

Aew Capital Management L P trimmed its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 14.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 837,292 shares of the real estate investment trust's stock after selling 137,410 shares during the period. CareTrust REIT makes up 1.2% of Aew Capital Management L P's investment portfolio, making the stock its 23rd largest holding. Aew Capital Management L P owned about 0.44% of CareTrust REIT worth $23,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Groupe la Francaise lifted its holdings in shares of CareTrust REIT by 14.3% in the 1st quarter. Groupe la Francaise now owns 20,572 shares of the real estate investment trust's stock worth $588,000 after purchasing an additional 2,575 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of CareTrust REIT by 4.6% in the 1st quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust's stock worth $248,000 after purchasing an additional 382 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of CareTrust REIT by 13.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,422 shares of the real estate investment trust's stock worth $355,000 after purchasing an additional 1,451 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of CareTrust REIT by 5.6% in the 1st quarter. Northern Trust Corp now owns 2,606,842 shares of the real estate investment trust's stock worth $74,504,000 after purchasing an additional 137,202 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of CareTrust REIT by 122.5% in the 1st quarter. Algert Global LLC now owns 217,093 shares of the real estate investment trust's stock worth $6,205,000 after purchasing an additional 119,520 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $34.37 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock's fifty day simple moving average is $31.49 and its two-hundred day simple moving average is $29.13. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $34.92. The stock has a market cap of $7.50 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.335 per share. The ex-dividend date was Monday, June 30th. This represents a $1.34 annualized dividend and a yield of 3.9%. CareTrust REIT's dividend payout ratio (DPR) is 111.67%.

Analyst Ratings Changes

CTRE has been the topic of a number of recent research reports. KeyCorp increased their target price on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. Finally, Wells Fargo & Company increased their target price on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

CareTrust REIT Company Profile

CareTrust REIT, Inc's (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.

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